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Council cabinet members are being recommended to approve an extension to an existing, five-year-old agreement with developer Jeremy Knight-Adams which will allow him more time to prepare a full planning application for submission by autumn 2018.

As well as generating permanent employment once complete, several hundred jobs would also be created or supported during the construction phase.

The project, subject to planning approval, would be built on land at Lion Farm Playing Fields, off Newbury Lane.

Sandwell Council's cabinet member for regeneration Coun Paul Moore said: "The extension will allow the developer Jeremy Knight-Adams sufficient time to work on his proposals for the site, consult with local people on the plans and compile all necessary reports in order to submit a planning application."

Mr Knight-Adams added: "I am whole-heartedly committed to delivering an exciting project for the people of Sandwell.

"My team and I look forward to fully engaging with local people and all interested parties as our plans evolve."

Lion Farm Playing Fields site (centre) close to junction two of the M5 in Oldbury (Image: Google)

According to a report prepared ahead of next week's meeting, the council first entered into an agreement with Mr Knight-Adams in December 2012.

The current version of the agreement was then signed between the council and the developer in May 2013 since when Mr Knight-Adams has made "significant progress (and) incurred significant expenditure in securing adjoining land to develop the scheme".

The report added: "There are, however, still a number of issues to be overcome before any potential development could be considered.